AMC Networks is offering buyouts as 'Walking Dead' ratings drop

AMC Networks is expected to offer voluntary buyouts to about 200
employees, an individual with knowledge of the situation told
Business Insider.

The company is expecting that about 10% to 15% of those who are
offered buyouts will take them, which would amount to about
20 to 30 jobs eliminated.

Though it isn't clear how much AMC is looking to save, other
companies have moved from buyout offers to involuntary employee
layoffs in order to meet spending goals.

According to Deadline, which first reported the buyouts, the
cuts are partially driven by AMC's weakening ratings for
its cornerstone show, "The Walking Dead," and the low
turnout for new shows, including "Preacher."

For season six, "The Walking Dead" averaged 13.2 million total
live viewers and earned a 6.5 rating in the audience most
attractive to advertisers, according to Nielsen. That's an 8.5%
drop from the previous season in total viewers and a pretty big
11.9% drop in the advertiser rating.

The numbers also aren't heavenly for "Preacher," which got
good word of mouth. Its current season is averaging just 1.7
million viewers and a low 0.62 ratings score.

In turn, these weak ratings are affecting the stock price of AMC
Networks, which owns the channel.
The Hollywood Reporter reported that its stock is down
20% this year.

At the same time, the industry as a whole is experiencing and
examining ways to cope with lower live-viewing numbers. For AMC's
part, it has four of the most-watched shows on cable TV,
including "The Walking Dead," its after-show "Talking Dead," the
spin-off "Fear the Walking Dead," and
"Into the Badlands."